Silver Elephant Mining Corp Stock Price, News & Analysis

Silver Elephant Mining Corp. (OTCQX:SILEF) has reported the discovery of a significant geophysical anomaly at its Pulacayo silver project in Bolivia. The anomaly spans over 1,400 meters in length and 250 meters in width, located approximately 250 meters from the surface. This finding, which exhibits high chargeability and low resistivity, may represent an off-shoot vein of the main Tajo vein system, which historically produced 670 million ounces of silver. Drilling is set to begin in July 2021 to explore this promising anomaly.

Silver Elephant Mining Corp. (OTCQX:SILEF) has announced the commissioning of an independent Mineral Resource Estimate for its Minago nickel project in Manitoba, Canada. The project will be assessed by Mercator Geological Services, AGP Mining, and Stantec, with completion expected in June 2021. The Minago project covers 197 km² within the Thompson Nickel Belt, which has produced over 5 billion pounds of nickel since 1958. Silver Elephant is actively studying existing permits and plans to update the Environmental Impact Statement.

Silver Elephant Mining Corp (OTCQX:SILEF) plans to spin out its non-silver assets, Flying Nickel Mining Corp and Nevada Vanadium Mining Corp, refocusing on its silver operations. The company aims to enhance resource expansion and environmental permitting at its flagship Pulacayo silver project in Bolivia, which holds 107 million oz of silver. A $35 million investment has been made at Pulacayo, with over 100,000 meters of drilling. The spinouts, currently non-binding, align with the company’s strategy to avoid diluting silver assets with non-silver ventures.

Silver Elephant Mining Corp. (TSX:ELEF)(OTCQX:SILEF) announced promising drill results from its Sunawayo project in Bolivia, revealing significant indium and gallium mineralization. Notably, drillhole SWD002 intercepted 87 g/t indium and 7 g/t gallium over 9 meters, with a silver equivalent of 252 g/t. The results confirm extensive indium and gallium concentrations, often exceeding silver levels. The project, which includes a total of 15 drillholes, shows potential for substantial mineral deposits, although no defined mineral resources exist yet. Full assay results for remaining holes are forthcoming.

Silver Elephant Mining Corp. announced positive drill assay results from its Sunawayo project, highlighting a high-grade intercept of 645 g/t Ag and other significant minerals. The results from holes SWD011 to SWD014 indicate a broader intercept of 5.0 meters graded at 297 g/t Ag. Notably, all 14 drilled holes contain silver mineralization, confirming the project's potential for mineral deposits.

Assay results for additional minerals, including indium and gallium, are pending as the company submitted samples for further analysis.

Silver Elephant Mining Corp. (OTCQX:SILEF) has reported significant silver mineralization at its Sunawayo project in Bolivia. The initial drill holes, SWD001 and SWD002, yielded impressive results: 137 meters of mineralization at 36 g/t silver and 31 meters at 44 g/t silver, respectively. The ongoing drilling program aims to further explore the silver resources, with potential implications for future growth. The Company's strategy includes focusing on Sunawayo while it is financed by top Canadian investment banks, indicating strong support for its operations.

Silver Elephant Mining Corp. (ELEF) has filed an early warning report under NI 62-103 following its acquisition of 40,000,000 common shares of Victory Nickel Inc. (VN) for $1,000,000 at $0.025 per Share. The acquisition was finalized on February 8, 2021, making ELEF a holder of approximately 29.0% of VN's outstanding shares. ELEF plans to evaluate its investment and may adjust its holdings. A voting trust agreement between ELEF and VN has been established, ensuring that ELEF votes in line with VN's directives.

Silver Elephant Mining Corp. has successfully acquired the Minago nickel project from Victory Nickel for a total of US$11,675,000. The project includes the Nose deposit, which features 790 million pounds of historic nickel resource. The transaction involves a Property Payment of US$6,675,000 against Victory Nickel's secured debt and US$5,000,000 worth of common shares to be issued over the year. Post-acquisition, Silver Elephant will own approximately 29% of Victory Nickel's shares, expanding its resource portfolio significantly.

Silver Elephant Mining Corp. (TSX:ELEF)(OTCQX:SILEF) has successfully closed its non-brokered private placement, raising $3,750,000 by issuing 10,000,001 common shares at $0.375 per share. After this placement, the company has 192,895,079 shares outstanding. The funds will be allocated for exploration, working capital, and general corporate purposes, including project evaluations and acquisitions. A finder’s fee of $73,875 was also paid. The shares will be subject to a four-month hold period.